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What is AR automation software, and what can this emerging technology do for your company? Simply put, it streamlines invoicing, payment tracking, and financial reporting, reducing manual effort and minimizing errors.
Most small and mid-sized businesses can’t justify hiring full-time help or even outsource accounts receivable for that matter, which is why learning how to automate accounts receivable process is the best possible approach.
You want to collect the payment you’re rightfully owed, but you don’t want to come off as pushy or unprofessional…so what is an acceptable invoice grace period law firms should abide by?
Lawyer payment plans are a great way to earn a client’s business if they would otherwise go with a cheaper option. You can also extend payment plans to clients who are struggling to make payments on time to prevent cash flow problems from accumulating.
Lawyer billable hours directly correlate to the revenue and productivity of your law firm. What are billable hours for lawyers, though? And what can you do to track and maximize them? You’ve come to the right place.
There are many more alternative fee arrangements law firms can consider, from performance-based incentives to capped fees, hybrid billing, value billing, and more. We’ll unpack the nuances of each approach below to leave you with a clear understanding of which is right for your firm.
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